Litecoin, Massive Wedge-Formation, Upcoming Perspectives!

Hi,

Welcome to this analysis about Litecoin, we are looking at the 4-hour timeframe perspective, the recent events, the current formational structure and formation forming, what we can expect the upcoming times and how to possibly handle the situation. Litecoin in the last times was one of the more volatile pairs making several moves to the upside after some small correction within, now it is approaching a significant range and slows down in momentum this is why I discovered a meaningful formation Litecoin is forming here determining the next outcomes and can be worthwhile when rightly assessed, therefore I detected all the important levels and likely outcomes we should consider here.

As when looking at my chart now we can watch there Litecoin has now established this major ascending-wedge-formation which is known as a formation with a bearish outcome, now besides Litecoin almost already completed the whole coherent ABCDE-wave-count within the formation and has also established this low-volatility-cycle indicating the lower boundary to be tested, when this lower boundary does not hold and Litecoin moves below this boundary it will complete the whole formation forward with bearishness and also activation downside-targets within the structure, Litecoin will then move on till it moves into substantial support in which it can stabilize anew.

Taking these factors into consideration and determining upcoming circumstances with the wedge-formation completed in the structure Litecoin will point to the point-of-control-zone marked in red within my chart where also the EMA-supports are lying and horizontal support by the previous price-action, this zone is a good zone for Litecoin to stabilize and back-up again to move on to test upper resistance-zones anew from where further conclusions will follow. For now, it is important to do not underestimated the bearish perspectives here and also elevate how this decisive formation possibly completes the next times to follow up with the further conclusions, it will be an interesting development.

In this manner, thank you for watching the analysis, have a good day, all the best!
"Prospect is the ingredient of good fortune."

Information provided is only educational and should not be used to take action in the markets.